Carvana Co.’s recently made public that its 10% Owner GARCIA ERNEST C. II unloaded Company’s shares for reported $6.18 million on Jun 05 ’24. In the deal valued at $102.98 per share,60,000 shares were sold. As a result of this transaction, GARCIA ERNEST C. II now holds 1,657,500 shares worth roughly $176.62 million.
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Then, GARCIA ERNEST C. II sold 60,000 shares, generating $5,989,935 in total proceeds. Upon selling the shares at $99.83, the 10% Owner now owns 1,717,500 shares.
Before that, GARCIA ERNEST C. II sold 60,000 shares. Carvana Co. shares valued at $6,021,495 were divested by the 10% Owner at a price of $100.36 per share. As a result of the transaction, GARCIA ERNEST C. II now holds 1,777,500 shares, worth roughly $189.41 million.
JP Morgan upgraded its Carvana Co. [CVNA] rating to an Overweight from a a Neutral in a research note published on May 02, 2024; the price target was increased to $130 from $70. A number of analysts have revised their coverage, including Jefferies’s analysts, who increased its forecast for the stock in mid March from “an Underperform” to “a Hold”. RBC Capital Mkts also remained covering CVNA and has increased its forecast on March 08, 2024 with a “Sector perform” recommendation from previously “an Underperform” rating. William Blair revised its rating on February 23, 2024. It rated CVNA as “an Outperform” which previously was an “a Mkt perform”.
Price Performance Review of CVNA
On Friday, Carvana Co. [NYSE:CVNA] saw its stock jump 1.81% to $106.56. Over the last five days, the stock has gained 6.58%. Carvana Co. shares have risen nearly 101.28% since the year began. Nevertheless, the stocks have risen 586.16% over the past one year. While a 52-week high of $129.00 was reached on 05/06/24, a 52-week low of $15.05 was recorded on 02/01/24. SMA at 50 days reached $96.33, while 200 days put it at $60.30. A total of 5.48 million shares were traded, compared to the trading of 4.95 million shares in the previous session.
Levels Of Support And Resistance For CVNA Stock
The 24-hour chart illustrates a support level at 102.47, which if violated will result in even more drops to 98.37. On the upside, there is a resistance level at 110.80. A further resistance level may holdings at 115.03. The Relative Strength Index (RSI) on the 14-day chart is 53.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.45%. Stochastics %K at 30.07% indicates the stock is a holding.
